HNA/HNB - Results third-quarter 2008

Highlights third-quarter 2008
 
- Operating profit, excluding REC: NOK 242 million - up 16 percent.
- Renewable Energy Corporation (REC) share investment's value decline in quarter: NOK 1,866 million (vs. value growth of NOK 1,302 million in 3Q 2007).
- Gain on the sale of the Group's residential alarm business: NOK 169 million.
- After-tax profit, excl. REC: NOK 116 million, up NOK 72 million.
- Return on equity, excluding REC: 26 percent for the 12-month period ending 30 September 2008 (16 percent for the 2007 accounting year).
- Hafslund Infratek: final agreement to acquire Fortum Service's Nordic countries infrastructure business is pending regulatory and shareholder approvals.
 
For further comments, first half-year 2008 financial statement and key figures please see the enclosed shareholders report.
 
Hafslund ASA
Oslo, 28 October 2008

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